“There are good reasons why plutocrats should care
about inequality anyway—even if they’re thinking only about themselves. The
rich do not exist in a vacuum. They need a functioning society around them to
sustain their position. Widely unequal societies do not function efficiently
and their economies are neither stable nor sustainable. The evidence from
history and from around the modern world is unequivocal: there comes a point
when inequality spirals into economic dysfunction for the whole society, and when
it does, even the rich pay a steep price.”—Economist Joseph E. Stiglitz, “The 1 Percent’s Problem,” Vanity Fair, May 31, 2012 (Web
exclusive)
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